Harry Cullen, spokesperson for the NI Conservatives, has urged the Executive to use its powers to create enterprise zones in Northern Ireland.
“The government provided the devolved nations with powers to create enterprise zones and offered money to fund them, way back in the 2011 budget”, Harry explained. “More recently both the Chancellor and the Secretary of State have re-emphasised these zones’ potential to act as hotspots for economic growth and have rolled out Capital Allowances benefits to existing enterprise zones. Yet, to date, Northern Ireland is the only part of the UK which hasn’t exploited this opportunity.”
“In GB enterprise zones are being used successfully to transform struggling areas. Liverpool, for example, has benefited from a flood of inward investment, since the ‘Mersey Waters’ scheme was announced. Meanwhile, the Scottish and Welsh administrations are taking the initiative and creating 11 enterprise zones, while the Northern Ireland Executive appears content to sit on its hands.”
“These zones are proven to attract jobs and prosperity through lower business taxes, world class IT infrastructure and streamlined planning regulations, among a toolbox of other benefits, which can be tailored to Northern Ireland’s needs. Yet our Executive, and the finance minister in particular, remain resolutely unfriendly to business, seeming to view the economy as a zero sum game, whereby investment in creating jobs is seen as a waste of public money. They are coming up with excuses not to act, citing regional aid or displacement of existing companies, all of which could be overcome with a little imagination. ”
“That lack of vision is causing our economy to stagnate, while other parts of the UK show signs of recovery. The Executive must start to demonstrate that Northern Ireland is open for business, before we fall further behind. A good start would be to use the powers which are currently available to create enterprise zones and begin rebalancing the economy. Because, currently, our ‘do nothing’ Executive is letting down the people of Northern Ireland, at a time when jobs and investment are desperately needed.”